Risk management is the process of making and implementing decisions to minimize adverse effects of accidental and business losses on an organization. It is a systematic application of the planning, organizing, leading, and controlling unctions to:
- Anticipate and identify accidental loss exposures
- Evaluate the risk
- Work to avoid or eliminate hazards
- Attain an acceptable level of risk
Occupational Health & Safety Risk Management
The field of OH&S Risk Management is a practice with processes, methods, and tools for managing OH&S business risks. These tools include:
- Human Resources Management and Services
- Occupational Health & Safety Management System and Program
- Employee Attendance Management
- Disability Management Program
- Employee Assistance Program
- Workplace Wellness Program
Integrated Workplace Health Management
Integrated Workplace Health Management (IWHM) is defined as a management approach in which organizational resources are positioned in an integrated manner to promote workplace health, safety, and well-being for the employee and the organization. The components of the IWHM program are linked so that they can optimize their program effectiveness as well as support the functions of all the other IWHM components. The result is an enhanced approached to promote and manage workplace health, safety, and well-being.
Organizations in Canada and the United States of America that demonstrate highly effective health and productivity strategies, have been shown to achieve significantly better business outcomes. They report:
- Higher market premiums – market premiums that are 18 points higher that the market premiums of low-effectiveness organizations;
- Average revenues per employee that are 40% higher – the difference per employee is $132K;
- An annual health care differential of $551 per employee;
- Lower casual absence days;
- Fewer disability days;
- Lower voluntary staff turnover rates;
- Reduction in employee health risks; and
- Fewer disability days. 
In essence, there is a link between highly effective health and productivity strategies, and strong business and financial results.
Implementing an IWHM Program is proven "risk management" approach.
Courses in IWHM are taught by Dianne Dyck and available through the University of Fredericton and the University of Calgary.
 Towers Watson (2013). Pathway to Health and Productivity: 2011/2012 Staying @ Work Survey Report.